OKX, the world’s second-largest cryptocurrency exchange by spot trading volume, announced that it would rebrand as a cross-platform service provider. According to a press release, OKX was founded in 2017 as a crypto trading service and has since expanded its suite of digital asset investing products to include OKX Earn, a tool for earning passive crypto income; an NFT marketplace and decentralised application discovery hub; and, most recently, MetaX, OKX’s new decentralised model that features a cross-chain dashboard and self-custody Web 3.0 wallet for storing digital assets.
The company’s name changed from OKEx to OKX, which symbolises the platform’s growing number of wealth creation options beyond the exchange, which allows investors to trade hundreds of digital assets on spot, margin, and derivatives market. OKX intends to provide investors with self-custody of their digital funds by allowing them access to decentralised assets and technologies.
OKX is pushing beyond the traditional centralised exchange paradigm to provide consumers with a complete cryptocurrency experience. Their goal is to provide customers with the tools they need to earn, transfer, and spend their money as they see fit. OKX’s CEO, Jay Hao, commented that, we’ve eliminated the “E” from our name since we’re more than simply an exchange. Despite the perceived name change and subsequent rebranding, OKx’s essential values remain the same, according to the company. These include the exchange’s commitment to a more decentralised and intelligent future, as well as its customer-centric approach. OKEx also promised new services for customers.
The MetaX, which combines a multi-chain self-custody wallet and an NFT marketplace, is one of these innovative options. This is done in conjunction with a DEX and DApp ecosystem.
At last, OKEx (now OKX) introduced the OEC decentralised chain, which can handle 1,000 transactions per second. The market cap also reached $188 billion, up 26% from the previous month.
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